UOP economic forecast: Recovery delayed, but it will come

The Record

Monday

Jan 24, 2011 at 1:25 PMJan 24, 2011 at 1:28 PM

San Joaquin County and much of the rest of California is in for a long, slow slog before any appreciable economic turnaround, according to the latest report from the Business Forecasting Center at University of the Pacific.

San Joaquin County and much of the rest of California are in for a long, slow slog before any appreciable economic turnaround, according to the latest report from the Business Forecasting Center at University of the Pacific.

But at the same time, the area's fundamentals should assert themselves with a return to healthy growth later this decade, unlike many recent news articles that predicted a permanent decline of the Central Valley, said Jeffrey Michael, Forecasting Center director.

The dire predictions largely inspired by a Mortgage Bankers Association study, “are flawed, overstate the future decline, and ignore the broader, long-term trends and issues in the regional economy.”

“I thought it was a piece of garbage, I'm sorry,” Michael said Monday.

Read Tuesday's Record for more on this story by staff writer Reed Fujii

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